MKTG 3213 Lecture Notes - Lecture 1: New York Post

57 views1 pages
19 Aug 2016
School
Department
Course
Marketing Notes
Wednesday August 17
1. What makes the economic world go around?
Seller  Buyer  Seller (Exchange)
Bottom Line: profit = total revenue – total cost
Increase revenue to increase bottom line
Everyone’s job is dependent upon exchange
2. Page 4: Marketing and your career
Marketing affects all individuals, all organizations, all industries, and
all countries
3. Marketing: the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
4. Don’t ask “will it sell” ask “will my product satisfy the customers” SATISFY
5. Page Six: What is needed for marketing to occur?
Two or more parties with unsatisfied needs
A desire and ability on their part to have their needs satisfied
A way for the parties to communicate
Something to exchange
Friday August 19
1. How people view themselves is how they go about themselves
Same goes with organizations
2. Five Different Ways Companies View Themselves: how they go about doing
business
Production Concept: emphasize producing things at low cost.
oProduction efficiency
oIt tends to work is when demand > supply
o“You can have any color of car you want, as long as it’s black” –
Henry Ford
Product Concept: consumers favor products offering the most quality,
performance, and innovation
oProducts tend to fail because customer is not satisfied
Selling Concept: consumers will not buy enough of the companies
product if you leave them alone
oPromote the product
oWhen supply > demand
oSelling is NOT equal to marketing
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows half of the first page of the document.
Unlock all 1 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
Monthly
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.